Regardless of all the challenges and uncertainties, OPEC Member Countries continue to invest in additional upstream capacities. On top of the huge capacity maintenance costs that Member Countries are faced with, they continue to invest in new projects and reinforce their commitment to the oil and gas market and as well as to the security of supply for all consumers. Needless to say, this is only a reflection of OPEC’s well-known policy that is clearly stated in its Long-Term Strategy and its Statute.
In the medium term, about 117 projects, with an overall estimated cost of some $270 billion, are being undertaken by OPEC Member Countries.
Source: OPEC
By
Robert Williams
Editor in Chief
News24.7WorldPress
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